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Future Bank Of America Checking Accounts?

Thursday, October 21, 2010 - 6:49 PMBank of America - Details
The New York Times Bucks Blog post reviews Bank of America's Q3 earnings release in regards to its consumer bank strategy. I did a little bit of that on Tuesday. Here's an excerpt from BofAs' earnings release:
New Consumer Bank Strategy

As a result of the legislation and other changes in the environment, the company is changing the way its consumer bank does business, focusing on a relationship enhancement strategy designed to incent customers to bring more business and to make pricing more upfront and transparent. This change moves away from a dependence on penalty fees, which the industry had adopted over the years, and provides the customer with a better banking experience. These changes are expected to result in additional revenue.

Perhaps they're planning something that looks like PerkStreet Financial's checking account? Or perhaps like a high-yield reward checking account? But I wouldn't put much hope in them offering interest rates over one percent.
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Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
Rep Points: 125,077
1. Friday, October 22, 2010 - 11:39 PM
Perhaps they're planning something that looks like PerkStreet Financial's checking account? Or perhaps like a high-yield reward checking account?

That would be way too...optimistic.
1
carnholiocarnholio9 posts since
Jun 12, 2010
Rep Points: 24
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